State Bank of India Profit Misses Views, Shares Fall

MUMBAI--Shares of State Bank of India dropped Thursday after the lender's net profit for the October-December period missed market expectations, hurt by higher provisions against bad loans.

Shares of the state-run bank, India's largest by assets, fell as much as 3.5% to 2177.05 rupees after it reported the results. They finished the day 1.8% lower at 2214.35 rupees in a Mumbai market down 0.6%.